Perpetual Ltd Takes $2.44 Million Position in CubeSmart (NYSE:CUBE)

Perpetual Ltd purchased a new stake in shares of CubeSmart (NYSE:CUBE) in the third quarter, according to its most recent 13F filing with the SEC. The fund purchased 69,531 shares of the real estate investment trust’s stock, valued at approximately $2,437,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CUBE. Zions Bancorporation N.A. purchased a new position in CubeSmart in the second quarter worth $32,000. Advisory Services Network LLC grew its position in CubeSmart by 200.0% in the first quarter. Advisory Services Network LLC now owns 1,500 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 1,000 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in CubeSmart in the second quarter worth $51,000. Advisor Group Inc. grew its position in CubeSmart by 36.3% in the second quarter. Advisor Group Inc. now owns 3,418 shares of the real estate investment trust’s stock worth $114,000 after acquiring an additional 910 shares in the last quarter. Finally, Tower Research Capital LLC TRC purchased a new position in CubeSmart in the second quarter worth $122,000. Hedge funds and other institutional investors own 98.90% of the company’s stock.

In other CubeSmart news, CFO Timothy M. Martin sold 32,028 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $35.75, for a total value of $1,145,001.00. Following the sale, the chief financial officer now owns 214,264 shares in the company, valued at $7,659,938. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Timothy M. Martin sold 17,791 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $35.80, for a total transaction of $636,917.80. Following the completion of the sale, the chief financial officer now owns 200,027 shares in the company, valued at approximately $7,160,966.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 129,707 shares of company stock worth $4,669,870. Corporate insiders own 1.04% of the company’s stock.

CUBE stock traded down $0.25 during trading on Thursday, reaching $34.74. The company had a trading volume of 120,629 shares, compared to its average volume of 1,230,773. CubeSmart has a 52 week low of $27.25 and a 52 week high of $36.32. The company has a market cap of $6.74 billion, a P/E ratio of 21.30, a PEG ratio of 6.39 and a beta of 0.16. The business has a 50 day moving average of $35.39 and a 200 day moving average of $33.85. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.09 and a quick ratio of 0.09.

CubeSmart (NYSE:CUBE) last released its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.15). CubeSmart had a return on equity of 10.19% and a net margin of 29.33%. The company had revenue of $159.00 million during the quarter, compared to the consensus estimate of $158.86 million. During the same period in the previous year, the company earned $0.41 earnings per share. CubeSmart’s quarterly revenue was up 7.6% on a year-over-year basis. Research analysts expect that CubeSmart will post 1.67 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend is Monday, September 30th. CubeSmart’s dividend payout ratio (DPR) is presently 78.05%.

Several research analysts recently issued reports on CUBE shares. Bank of America lowered shares of CubeSmart from a “buy” rating to a “neutral” rating in a research report on Friday, July 19th. Zacks Investment Research raised shares of CubeSmart from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a research note on Monday, September 30th. Robert W. Baird set a $35.00 price target on shares of CubeSmart and gave the stock a “hold” rating in a research note on Wednesday, August 21st. ValuEngine downgraded shares of CubeSmart from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus started coverage on shares of CubeSmart in a research note on Monday, August 19th. They issued a “hold” rating and a $35.00 price target for the company. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $33.70.

CubeSmart Profile

CubeSmart is a self-administered and self-managed real estate investment trust. The Company's self-storage properties are designed to offer affordable, easily accessible and secure storage space for residential and commercial customers. According to the 2019 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.

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Institutional Ownership by Quarter for CubeSmart (NYSE:CUBE)

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